The stock of Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) gapped up by $0.83 today and has $29.48 target or 40.00% above today’s $21.06 share price. The 5 months technical chart setup indicates low risk for the $30.92 million company. The gap was reported on Nov, 1 by Barchart.com. If the $29.48 price target is reached, the company will be worth $12.37 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 28,302 shares traded hands. Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) has risen 26.97% since March 28, 2016 and is uptrending. It has outperformed by 23.96% the S&P500.
More notable recent Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) news were published by: Theglobeandmail.com which released: “Silver’s ‘sweet spot’ for seasonal buying has arrived” on January 02, 2013, also Seekingalpha.com with their article: “No ‘Bull’ About Leveraged Gold Bull ETFs” published on November 21, 2012, Business.Financialpost.com published: “ETF closings are just part of the game” on June 29, 2012. More interesting news about Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) were released by: Stockhouse.com and their article: “Microcap Report: Convalo Health (V.CXV) up 190% on TSX Venture debut” published on February 17, 2015 as well as Theglobeandmail.com‘s news article titled: “An easy way to play complex sectors” with publication date: February 11, 2011.
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